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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Tribunal ruled that reopening proceedings cannot survive where the mandatory sanction under Section 151 is not obtained from t...
Income Tax : Delhi ITAT held that donations qualifying under Section 80G do not lose eligibility merely because they form part of Corporate Soc...
Income Tax : The Tribunal ruled that addition of the entire amount of bogus purchases as unexplained expenditure was unwarranted in the facts o...
Income Tax : Delhi ITAT ruled that delayed deposit of employees' PF/ESI contributions attracts disallowance under Section 36(1)(va). The decisi...
Income Tax : The ITAT held that an assessee can contest a Section 143(1) adjustment in an appeal against the assessment order if the adjustment...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Presumptive Taxation Scheme for Assessees Engaged in Eligible Profession [Section 44ADA] (1) Introduction:- Scheme for presumptive taxation was introduced under section 44ADA from the F.Y.2016-17. Section 44ADA provides a simple method of taxation for Specified Small professionals. Earlier, the presumptive scheme of tax was applicable only for small business. The presumptive scheme of taxation reduces […]
A step-by-step guide to checking your income tax refund status and understanding the reasons for delay. Get the information you need to track your refund.
Intricacies of section 115BAA Introduction With the introduction of new section 115BAA, domestic companies now have the option to pay tax at a lower rate of 22% (plus surcharge and education cess) with effect from AY 2020-21. The section basically allows corporate assessees to pay tax at a lower rate on foregoing majority of deductions/exemptions […]
CORPORATE SOCIAL RESPONSIBILITY UNDER THE COMPANIES ACT, 2013 For conducting its business activities, a company exploits various resources of the society and the environment. Corporate Social Responsibility (CSR) is an act of incorporating the social and environmental concerns into the business model of the company. CSR is not a voluntary act on part of the […]
India, being one of the fastest growing e-commerce market, is expected to see a spurt in the coming years. Moreover, any such pandemic that requires us to stay indoors and avoid physical interactions, has increased the requirement of operators and businesses to use digital platforms to cater customers and serve them with the best possible […]
Due to the lack of statutory law and legislative framework governing transfer pricing, the taxability of AMP expenses has become a biggest controversy and dilemma, and it also offers no guidance in situations where an express agreement does not exist.
This article provides valuable tips and suggestions to assist all the taxpayers in saving their taxes that are to be paid for the financial year 2019-2020. This article is packed with real-life comprehensive illustrations which shall give all the readers thorough insights to lower their tax incidence and will also help them understand the tax provisions & implications in a finer way
वित्त वर्ष 2018-19 के लिए आयकर के स्वैच्छिक अनुपालन पर ई-अभियान शुरू करने के लिए सीबीडीटी 20 जुलाई, 2020 से आयकर विभाग की नई पहल 20 जुलाई, 2020 से वित्त वर्ष 2018-19 के लिए स्वैच्छिक अनुपालन पर ई-अभियान शुरू करने जा रही है। एक आधिकारिक प्रेस विज्ञप्ति में, सीबीडीटी ने कहा है कि सोमवार से […]
The issue under consideration is whether the AO is correct in disallowance of the deduction claim u/s 10AA by stating that the import of diamonds for re-export is not eligible for such deduction?
The issue under consideration is whether short of the jewellery found during search be treated as sold and capital gain attracted?
